DoorDash (NASDAQ:DASH) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

DoorDash (NASDAQ:DASH - Free Report) had its target price upped by Wells Fargo & Company from $198.00 to $201.00 in a report published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities research analysts also recently commented on DASH. JMP Securities restated a "market outperform" rating and set a $200.00 price objective on shares of DoorDash in a report on Thursday, February 6th. Wolfe Research boosted their price target on shares of DoorDash from $210.00 to $220.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. raised their price objective on shares of DoorDash from $155.00 to $205.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Loop Capital lifted their price objective on shares of DoorDash from $200.00 to $235.00 and gave the company a "buy" rating in a report on Monday, February 24th. Finally, Bank of America upped their target price on shares of DoorDash from $205.00 to $245.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $206.12.

DoorDash Price Performance

Shares of DASH traded up $1.47 during trading hours on Thursday, hitting $167.77. The stock had a trading volume of 1,905,726 shares, compared to its average volume of 4,185,948. DoorDash has a 1-year low of $99.32 and a 1-year high of $215.25. The firm has a market capitalization of $70.48 billion, a P/E ratio of 618.03 and a beta of 1.69. The firm has a 50 day simple moving average of $191.57 and a 200-day simple moving average of $174.26.

Insider Transactions at DoorDash

In related news, CFO Ravi Inukonda sold 15,198 shares of DoorDash stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $204.11, for a total value of $3,102,063.78. Following the completion of the transaction, the chief financial officer now directly owns 351,970 shares in the company, valued at approximately $71,840,596.70. The trade was a 4.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andy Fang sold 1,398 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $284,423.10. Following the sale, the director now directly owns 14,778 shares in the company, valued at $3,006,584.10. The trade was a 8.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 258,523 shares of company stock worth $47,227,120 over the last quarter. Corporate insiders own 7.92% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Swedbank AB boosted its position in shares of DoorDash by 3.3% in the fourth quarter. Swedbank AB now owns 171,055 shares of the company's stock valued at $28,694,000 after acquiring an additional 5,539 shares during the period. Sanctuary Advisors LLC boosted its holdings in DoorDash by 48.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company's stock valued at $1,522,000 after purchasing an additional 3,498 shares during the period. LVW Advisors LLC purchased a new position in shares of DoorDash during the 4th quarter valued at $236,000. Nordea Investment Management AB increased its holdings in shares of DoorDash by 37.5% in the fourth quarter. Nordea Investment Management AB now owns 1,746,379 shares of the company's stock worth $294,701,000 after purchasing an additional 476,360 shares during the period. Finally, Retireful LLC raised its position in shares of DoorDash by 121.4% in the fourth quarter. Retireful LLC now owns 9,621 shares of the company's stock worth $1,614,000 after buying an additional 5,275 shares in the last quarter. Institutional investors own 90.64% of the company's stock.

DoorDash Company Profile

DoorDash, Inc, together with its subsidiaries, operates a commerce platform that connects merchants, consumers, and independent contractors in the United States and internationally. The company operates DoorDash Marketplace and Wolt Marketplace, which provide various services, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support.